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Prepare colsons journal entries

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Reference no: EM131106032

1. The Colson Company issued $300,000 of 10% bonds on January 1, 2011. The bonds are due January 1, 2016, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson's journal entries for 

(a) The January issuance, 

(b) The July 1 interest payment, and 

(c) The December 31 adjusting entry. 

Reference no: EM131106032

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